The Nordic impact stocks declined for yet another week. Every sector is down in the past week, year-to-date, and the last twelve months. In the past week, the more experimental sectors declined the most, and for the year, 24 out of 25 stocks in the Energy Production & Services sector have declined with Vestas being down 54%. Buyouts have created the greatest returns year-to-date such as Everfuel and Volue with many companies struggling with generating profits.
NORDIC | IMPACT Helps you to invest more sustainably in the businesses of tomorrow. We track the development of more than 100 Nordic impact companies within multiple impact sectors from small to large cap.
Every impact sector is down in the past week, year-to-date, and last twelve months!
Every impact sector declined in the past week, and every sector has been in a downward trend for the past year. The more experimental sectors of Power2X & Fuel Cells and CO2 & Carbon Capture were down 4-11%, while the more stable ones, such as Energy Production & Storage and Waste Management, had smaller declines of 2%. This might indicate a loss of risk appetite by investors for the sectors with more uncertainty.
As always, a few individual stocks influence the returns in each direction. Last week, the Norwegian Tax Authority filed a bankruptcy petition against a subsidiary of TECO 2030, the TECO 2030 Innovation Center, leading the stock to be more than cut in half. Furthermore, Knox Energy Solutions, a producer and distributor of hydrogen fuel for ships, declined by 36%.
The average return of impact stocks in the past week was -4.4%. Especially the Energy Production Equipment & Services sector has faced a very tough year being down -51% year-to-date. The sector consists of 25 stocks and 24 of them have declined in 2024. Vestas, the world-leading developer of wind turbines, is down 54% this year.
The impact sectors the past week, year-to-date, and last twelve months
Top 10 impact stocks of the week
Partnera (18%) specializes in investment, ownership, and further management of unlisted companies in the energy and manufacturing sector. One investment is Foamit Group, a glass manufacturer. The vision is to create long-term good returns for shareholders by owning and developing growth companies with value potential.
SaltX Technology (17%) is a Swedish greentech company that develops and markets sustainable electrification technology aimed at the industrial sector. The technology solutions intend to replace the industry’s dependence on fossil fuels for industrial processes. The company operates in large-scale energy storage solutions and electrification technology for mainly the lime and cement industry.
EcoRub AB (14%) is a greentech company that produces recycled rubber and plastic material for injection molding, extrusion, and calendering. The company’s recycled materials are developed and produced with material properties that include materials with the elasticity of rubber to the stiffness of hard plastics. Yesterday, the company announced increased investments in the German market.
The average return for the top 10 stocks in the past week was 9.3%.
The 10 best-performing stocks in the past week
TOP 10 IMPACT STOCKS OF THE YEAR
Everfuel is the best-performing stock year-to-date. Please note that Everfuel is about to be acquired by Swiss Life Asset Management at NOK 13 a share. Furthermore, Volue has been delisted after an almost 100% return year-to-date, thus it does not appear in the top 10 list. 10 stocks have returned over 20% YTD, and time will tell if some of them deliver a 2x return at the end of the year. Two changes were made. CirChem and Tomra Systems moved out, while SaltX Technology and Partnera moved in at the top 10 list.
The current average return of the top 10 stocks year-to-date is 35%. Including Volue, the return would be 43%. The stock was removed from the top 10 list as it is no longer tradeable, but it did deliver an almost 100% return.
The return for the top 10 impact stocks year-to-date
Waste Management
The waste management sector, characterized by its essential and non-cyclical nature, should present a stable investment opportunity with long-term potential, driven by increasing environmental awareness, regulatory demands, and the growing need for efficient waste disposal and recycling solutions. Despite this, the majority of the stocks have performed negatively this year. Only Agilyx and Partnera have delivered +20% returns year-to-date.
Waste Management – YTD
Energy Production & Storage
The Energy Production and Storage sector offers substantial investment opportunities, as it stands at the forefront of the transition towards renewable energy sources, driven by climate concerns and technological advancements. However, Year-to-date, only 6 stocks have delivered a positive return.
Energy Production & Storage – YTD
Energy Production Equipment & Services
The Energy Production Equipment & Services provides technical equipment and machines to other energy-producing companies such as Ørsted. The sector is to some extent influenced by oil and gas price fluctuations and industry trends. Year-to-date, BPC Instruments is the only stock with a positive performance. Note that Volue has been delisted.
Energy Production Equipment & Services – YTD
Power2X & Fuel Cells
The Power-to-X and Fuel Cells sector offers exciting investment opportunities in the evolving landscape of clean and sustainable energy technologies, but investors should also be mindful of the evolving regulatory and competitive landscape in this rapidly advancing field. Everfuel is the only stock with a positive impact on the sector’s performance year-to-date.
Power2X & Fuel Cells – YTD
Food & Beverages
The food and beverages sector is heavily driven by consumer demand and having strong brands is a major advantage. Investors should consider factors such as changing consumer preferences, health and sustainability trends, and global supply chain dynamics to identify promising opportunities. Year to date, 4 stocks have delivered a +25% return.
Food & Beverages – YTD
CO2 & Carbon Capture
The CO2 and Carbon Capture sector presents compelling investment opportunities for companies capturing and removing carbon dioxide from the atmosphere. It is a small sector comprising only 6 stocks, with ChromoGenics as the only stock with a positive return year-to-date.
CO2 & Carbon Capture sector YTD
Mobility
The mobility sector includes among others ride-sharing platforms and the development of electric vehicles to lower emissions and costs for consumers while increasing flexibility. Mobility is the smallest sector we track totaling only 5 stocks. Donkey Republic is the best performer in 2024 and the only company in the sector with a positive return.
Mobility YTD
